India draws $1.6 billion in foreign inflows in one day as AI stocks rout

Investing.com · 2026-11-06 11:22 UTC

India draws $1.6 billion in foreign inflows in one day as AI stocks rout

Investing.com - Foreign institutional investors poured a net ~150 billion rupees ($1.6 billion) into Indian equities on Thursday, November 5, the biggest single-day net purchase in nearly six years, as global funds scrambled to exit AI-linked positions in North Asia.

The trigger was a confluence of political and macro events: the Democrats’ sweep of U.S. midterm elections sent Brent crude below $100 a barrel and sparked a broad selloff in AI-linked megacaps globally, abruptly tilting the relative-value calculus in favour of markets like India that sit outside the AI semiconductor supply chain.

The iShares MSCI India ETF (NASDAQ:INDA), with $5.84 billion in assets under management and a PE ratio of 19.62, according to Investing.com data, is the most direct U.S.-listed expression of that rotation trade. INDA was indicated up 1.76% in pre-market trading at $50.90 as of Friday morning, according to Investing.com data, though pre-market volume remains thin ahead of the NYSE open, with 6,570 shares as of 10:13 UTC.

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